The weekly Floridian. [volume] (Tallahassee, Fla.) 1867-19??, 1887-07-28


Leon County Building and
Loan Association.
ARTICLE
This Association shall be entitled "Leon
County Building and Loan Association" and its
place of business shall DO Tallahassee, Florida.
ARTICLE Ii.
OBJECT.
The object of this Association is to afford ih
members an opportunity TO acquire, in an easy
manner, by the payment of monthly INSTALL
ments. . capital for building or purchasing q
house or other property, or for establishing q
business, or investing their savings 10 q secure
manner at good interest.
ARTICLE Ill.
MEMBERS.
SECTION 1. All persons legally capable of hold
ing property, either by themselves or trustee,
may be members of this Association.
SEC. 2. Each stakeholder, for each and every
share of stock by him or her held, shall pay the
sum of one dollar on subscribing, and the same
amount on the third Monday of each and every
mo It'll thereafter to the Treasurer, or such other
person persons as shall, from time to time,
by the laws and regulations of the Association,
be authorized to receive the same until the value
of the whole stock shall be sufficient to divide
TO each share of stock the sum of two hundred
dollars
SEC. 3. When each stakeholder, for each and
every share by him or her held, shall have re
ceived the sum OF two hundred dollars, or his or
he unsatisfed obligations to that amount, then
the Association shall determine and close.
SEC. 4. Should any stakeholder fail to meet
l. l,a- I,ao nfto tho
shall be payable aforesaid, he or she shall pay
the additional sum of ten cents for each dollar
thus unpaid, the same TO be charged and collect
ed with the monthly dues as fine.
SEC. 5. In case OF failure or neglect on the part
of q member TO pay his monthly dues for three
successive months his shares may be offered by
the Directors for sale at the succeeding monthly
meeting, and be sold to the highest bidder, said
shares to be liable in the hands of the purchaser
for all fines and arrearages, with the proportion
ate part of all losses and expenses sustained,
but they may be purchased by the Board for the
Association. Should said stock sell for sufficient
to pay such fines, arrearages and proportions as
Aforesaid, the balance, If any, after deducting
them shall be returned to the delinquent stock
holder, who shall thenceforth cease to be mem
Der of this Association.
SEC. 6. In the event of the death Of any men,
Der who has received no portion of his or her
advance on his or her stock the legal representa-
tives of the deceased shall be entitled in their
capacity as such TO continue their connection
with the Association on their compliance in all
cases with the constitution and bylaws of the
Association; or they shall be entitled to receive
the full amount paid in by such stakeholder and
legal interest thereon first deducting all charges
that may be due on the stock and in that event
the stock shall be cancelled. No fines shall be
charged TO deceased members account from
and after his her decease, unless the legal rep
resentatives Of such decedent assume the further
payment on the stock.
SEC. z. Any stakeholder wishing to withdraw
from the said Association shall have power TO
do 80 by giving thirty days notice of his or her
intention TO withdraw, when he or she may be
entitled TO receive the amount paid in by him or
her, less all fines and other charges; but after
the expiration of one year from the Issuing of
the stock, such stockhOlder shall be entitled in
addition thereto to legal interest thereon Pro-
cided, That at no time shall more than one-half
Of the funds in the treasury of the Association be
applicable to the demands of Withdrawing stock
holders without the consent of the Board of Di-
rectors, and that no stakeholder shall be entitled
to withdraw whose stock is held in pledge for
security.
SEC 8. Each stakeholder, for every share of
stock by him held, shall be entitled, personally
or by proxy, at an annual or special meeting, to
one vote for the election of officers and other
purposes.
Sec. 9. Each stakeholder shall sign the Con-
SttuuOu, tucICUy OuIlSotluk LlulSti W pay puuC-
tually his monthly dues, interest and fines, in
Guiding those on shares transferred to the
Treasurer as collateral security for loans, and to
refuod all sums Of money paid by the Association
on his or her account for insurance premiums,
taxes or other proper purposes, and to fulfill all
the acquisitions herein contained.
ARTICLE Nv.
STOCK.
SECTION 1. The capital stock of the Associa-
ton shall consist of five hundred shares.
Sec. g. Transfers of stock may at any time be
made by the holder, an assignment being duly
executed by him or her, and transfer made on
the books of the Association by the Secretary.
Such transfer rlust be made at least one month
before election to enttle the holder to vote, and
no transfer shall be valid until all arrearages and
fines due ON his or her stock shall have been
fully paid and discharged.
Sec 9. New shares of stock may be issued in
lieu of the shares withdrawn or forfeited.
ARTICLE v.
The officers of this Association shall consist of
President, Vice President, Secretary, Treasurer
and Solicitor, and also five Directors, who,
with the President and Vice-President, shall
onstitute the Board of Directors. All the off
GERS except the Solicitor shall be elected at the